Rev1 Ventures Announces Investment in Prevedere
Leading Venture Fund Participates in Predictive Analytics Provider’s $10M Round
Columbus, OH—March 9, 2017—Today Rev1 Ventures, the leading seed-stage venture fund and startup studio, announced its investment in Prevedere, a predictive analytics company named the Most Innovative Tech Company of the Year by the 2016 American Business Awards. This news signals the first investment from Rev1 Fund I, the groundbreaking corporate-backed fund and a first of its kind for the Columbus region. Rev1 participated in the $10 million Series B round to help Prevedere accelerate enterprise market adoption of its cloud-based predictive analytics solution.
“This investment solidifies Rev1’s position as a lifecycle investor, and further proves our commitment to supporting the region’s high-growth companies from concept to early stages,” said Tom Walker, CEO of Rev1 Ventures. “One of Rev1’s earlier seed funds was the first investor in Prevedere five years ago and we’ve supported the company’s growth with capital and strategic services since its formation. As a result of its customer-centric approach, Prevedere has attracted attention and capital from West Coast investors, while maintaining its strong presence in Ohio. They are a model for a successful Central Ohio startup, and we are pleased to continue supporting their growth.”
“Rev1 has been a trusted partner since the beginning – we leveraged their strong First Connect Customers network, which gave us access to corporate customers when the company was just getting started,” said Rich Wagner, founder and CEO of Prevedere. “Thanks to their early investment and strategic advisory support, we were able to quickly develop a powerful solution that arms business decision makers with real-time predictive analytics to make smarter decisions related to budgeting, production, marketing and more.”
Columbus has become the fastest-growing region for startup activity, and Rev1 is the most active seed fund investor in the Great Lakes Region. The Rev1 portfolio is on pace to raise more in the first half of 2017 than it did in all of 2016, marking the growth in the portfolio and the increase in funding to it.
Rev1 joins lead investor Norwest Venture Partners, Microsoft Ventures and PointGuard Ventures in the Prevedere funding round.
About Rev1 Ventures
Rev1 is a venture fund that helps entrepreneurs build great companies. Combining investment capital with a unique blend of services through our startup studio, we propel innovation for startups and corporate innovation teams. Our seasoned, data-driven team helps lay the foundation for scalable growth with the skills to evolve a product, sell to customers, and build the right team. Named a top VC investor in the Great Lakes Region, Rev1 manages a continuum of financial support from corporate and community partners, as well as the Ohio Third Frontier. Rev1 was named the Most Active VC in Ohio in 2017 by CB Insights. For more information, visit https://www.rev1ventures.com.
A leader in business performance forecasting solutions, Prevedere is a predictive analytics company that is changing the way businesses predict and prepare for future demand. With external factors such as energy prices, consumer spending and currency changes often at the root of missed forecasts, Prevedere empowers enterprises to easily integrate these influences into their existing forecasting processes. By tracking and managing thousands of global sources on economic, environmental and consumer behavior data, Prevedere’s correlation engine accurately determines which factors are true leading indicators for company revenues, profits and even individual products, nationally and locally. By augmenting internal data with external predictive analysis, Prevedere’s clients see significant reduction in forecast error and reduce time to insights as much as 90 percent, resulting in smarter, more profitable decisions in an ever-changing economy.
Named the Most Innovative Tech Company of the Year by the 2016 American Business Awards, Prevedere solves a critical void in business planning. To learn more, visit prevedere.com and follow @Prevedere on Twitter.
Press (at) rev1ventures (dot) com